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Comcast and Charter want to split up Time Warner’s cable markets

Comcast and Charter are working out a deal in which Charter would acquire Time Warner Cable (TWC) and then sell some of those assets to Comcast.

Previously, Charter offered to buy Time Warner for $61.3 billion or $37.3 billion excluding TWC’s debt. Time Warner management rejected the amount, but Charter is attempting to push an acquisition through by appealing to shareholders.

Today, Bloomberg reported that Comcast “is near a deal to buy New York City, North Carolina, and New England cable assets from Charter Communications Inc. if shareholders approve Charter’s takeover bid for Time Warner Cable Inc.”